EXMO, one the fastest-growing cryptocurrency exchange platforms, is set to launch a month-long crowdsale of its exchange tokens beginning from April 26th. The blockchain firm had to reschedule its token offering amid the huge interest in the community.
In the public announcement, EXMO noted: “The quantity of requests to participate in the EXMO Coin crowdsale has exceeded all our forecasts by 3 times. Starting from November 2017, at least 10k new users have been registering on EXMO exchange daily. Around the New Year 2018 time, the number of closed deals on the platform has seen a 9 fold increase from that just two months ago. The number of those wanting to use margin lending has also grown significantly. Based on our marketing surveys, 6 times more users are expecting the new service to be launched on the platform than in October 2017.”
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“Since EXMO Coin crowdsale is meant to create a financial buffer for margin lending on the EXMO platform, we consider it logical as well as optimal to shift its dates to April 26 – May 26, 2018. We believe that a more powerful start to the margin trading on EXMO will make our crowdsale even more successful and profitable for its investors, which will bring benefits to all,” it added.
With the token sale, the exchange platform is planning to launch a margin loan service for traders, who will be able to borrow extra funds from the platform to bet on fluctuations of cryptocurrencies.
The introduction of the platform’s native EXMO tokens (EXO) will attract additional investment capital to EXMO. The exchange will offer 50% of the revenue derived from the margin loans to the investors and the token holders in the form of dividends on a monthly basis. Said revenue is to be received from the turnover of funds invested during the crowdsale. However, all the tokens have to be kept on the platform itself.
The platform is already attracting a lot of active traders from all over the world due to its diverse services. The platform has more than 1,200,000 registered users, with 90,000 daily active traders. It adds 2,000 users daily and ranks 7th in terms of the number of executed trades per minute on a trading platform.
Desmond Marshall, an advisor to EXMO, explained: “We are not talking about a company that is just on paper but they actually have a lot of traffic, a lot of actual business running itself. So as a business itself it’s already attractive, and especially when they are running an ICO it’s even better because one of the biggest issues of running an ICO is token sustainability, how to keep a token alive after you have issued the token itself. So, if you are running one of the exchanges in the world, therefore you’ll be listing your own token to increase the traffic of these tokens, the trading of these tokens.”